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Accelerating Nuclear Energy: Federal Guarantees and Tax Relief for New Reactors.

This Act establishes a new program to accelerate the construction of advanced nuclear reactors by mitigating financial risks. The federal government will cover significant cost overruns (up to $1.2 billion per project) once costs exceed 120% of the initial estimate, encouraging private investment in these capital-intensive projects. Citizens benefit from potential future energy stability and clean power, but the program commits substantial public funds to absorb construction risks.
Key points
The federal government assumes liability for major cost overruns on advanced nuclear projects once expenses exceed 120% of the approved budget.
The maximum federal payment to cover these overruns is capped at $1.2 billion per qualifying project, shifting risk from developers to the public after a certain threshold.
Enhanced financing terms allow loan guarantees up to 200% of the project's estimated cost.
Tax benefits are provided, ensuring that federal payments covering cost overruns are not included in the borrower's taxable income.
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Additional Information
Print number: 118_S_5421
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2024-12-04
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ARC Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5421.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-12-04.

What are the main provisions?

Key points include:

  • The federal government assumes liability for major cost overruns on advanced nuclear projects once expenses exceed 120% of the approved budget.
  • The maximum federal payment to cover these overruns is capped at $1.2 billion per qualifying project, shifting risk from developers to the public after a certain threshold.
  • Enhanced financing terms allow loan guarantees up to 200% of the project's estimated cost.
  • Tax benefits are provided, ensuring that federal payments covering cost overruns are not included in the borrower's taxable income.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Risch, James E. [R-ID].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Public Investments Taxes Environment